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The pair is going through correction

19 August 2015, EUR/USD

The pair is going through correction

< span> four-hours' chart of EURUSD. The pair continued to decline, but before reaching the target at the top level of support and resistance (4/8), it went into a correction. It is worth noting that the local corrective pullback has already reached the first line of resistance which acts as a four SuperTrend line. From this line we can expect resumption of the downward movement. The alternative would be a deeper pullback to around (6/8) and then resumption of the downward movement.

Nikolay Krishtopov
FreshForex Analyst
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